Marketers can adopt bid price strategies tailored to their campaign goals and needs.
What is the goal of your campaign?
Before launching into the different bid price strategies you can manage using the Gamoshi platform, you must identify what type of campaign you will be running. Your success KPIs will be the main factor that will influence the type of bid price strategy you will eventually choose and which will work best for your needs:
Performance marketing is advertising that prioritizes precise, quantifiable results, such as return on ad spend (ROAS), cost per click (CPC), and cost per conversion. Marketers in this field aim for immediate engagement from their campaigns and typically establish their key performance indicators (KPIs) based on the specific goals they want to achieve.
Brand marketing strategically emphasizes a brand’s strengths, core values, and emotional appeal. Its primary focus is increasing brand awareness and fostering a sense of trust and connection between consumers and the brand. By cultivating these relationships, brand marketing aims to create lasting impressions that resonate with the audience.
Evaluating the Potential Reach of Your Campaign
Please advise the following article that explains how to view the data in the BI to find the maximal reach of your campaign based on the system's available traffic.
The campaign Budget
The available budget you have for the campaign, as well as the campaign's start and end date, allows you to determine the potential scope of the campaign.
Reporting Metrics that Help You Bid Better
In the BI, you can choose an Ad type to review clear rate, fill rate, and eCPM metrics. The clear rate provides insights into the winning bid responses (opportunities) and their ratio in comparison to the overall Incoming Requests. If your campaign goal is to increase your share of voice for the traffic you are being sent, then growing your clear rate will help you achieve that goal.
The fill rate indicates how many winning bids were eventually converted to impressions or video impressions.
Both of these metrics can be managed and optimized by adopting an appropriate bidding strategy.
How to know if your bid price is competitive enough?
First, it is imperative to review the statistics properly. If you are receiving traffic from several different GEOs and ad types, adding an ad type and an advanced filter with a specific country would give you more meaningful data.
Another important filter you might want to add to your BI query is the ad size filter. Choose the ad size based on the creative ad size you intend to run for your campaign to understand your current bid ratio and win ratio for the relevant parameters only.
What does it mean if my clear rate is too low?
A low clear rate depends on your campaign scope and the goals you have set for your campaign. However, in general terms, a clear rate below 10% would be considered low for a direct campaign.
It means that you are not bidding on most of the traffic that is being sent your way. To identify the cause of that, you will first review your campaign filters and the incoming traffic parameters and adjust accordingly to make sure that you are reaching a relevant potential audience.
What does it mean if my fill rate is too low?
If you fail to reach a sufficient fill rate (for a direct campaign you can expect to reach very high fill rates), it means that you are not winning with the current eCPM on the publishers' side and you are outbid by other advertisers in the real-time auctions. In this case, it would be advisable to consider increasing your bid price.
How to to use the Score in the Creative screen to optimize for the best campaign reach?
One possible strategy would be to upload the same creative with different price points to find which one yields the highest ROI and generates optimal clear and fill rates.
As the system automatically gives preference to the highest possible price in the auction, you can use the Score metric to prioritize the lower-priced creative first (giving it a higher score) which will then give you the best idea of which price point is performing best:
By prioritizing the lowest-priced creatives in the auction, you can find the exact balance between excessive and competitive prices that helps you effectively reach your KPIs.
Please contact our support team at support@gamoshi.com if you need any further assistance!